Crocus Technology, a France-based manufacturer of magnetic sensors, has raised a €19m ($21m) series E round backed by gas generation technology developer Ventech.
IdInvest Partners, backed by insurance conglomerate Allianz, media group Lagardère, recruitment firm Up Group and state-backed fund Bpifrance; state-backed investment firm Rusnano; venture capital firms NanoDimension, Innovation Capital, Sofinnova, CEA Investissement, Industrial Investor Group; and growth debt provider Kreos Capital also participated.
Founded in 2004, Crocus develops sensors that enable internet of things technologies such as power management and smart energy metering.
Crocus will use the fresh capital to focus on the key markets of industrial, consumer electronics, automotive and internet of things, to finish setting up its distribution network in Asia, to expand its support team, and to add new products to its portfolio.
The company has obtained €180.3m in funding to date.